The report offers detailed analysis of the US defense industry with
market size forecasts covering the next five years. This report will
also analyze factors that influence demand for the industry, key market
trends, and challenges faced by industry participants.

Being the largest defense spender in the world, with a budget of over
US$ 639 billion in 2018, the US is expected to sustain its superiority
over other nations in the coming years. The US defense expenditure is
expected to grow at a CAGR of around 1.98% during the forecast period to
reach around US$ 742 billion by 2023.

The country's defense expenditure will largely be driven by efforts to
retain its military supremacy and initiatives to replace the aged and
worn-out weapons that have been used in the Iraq and Afghanistan wars.

Moreover, the country's initiatives to deal with the turbulence in the
Middle East that could pose a potential threat to the interests of the
US are also expected to drive the expenditure over the forecast period.
As a percentage of GDP, the country's defense expenditure is expected to
average 3.1% over the forecast period.

The capital expenditure is expected to average 37.5% during 2019 and
2023 and the share of revenue expenditure is expected to average 62.5%
during the forecast period.

During 2013-2017, the US retained its position as the largest exporter
of defense equipment in the world, and is expected to remain the same
over the forecast period, primarily due to the increase in defense
budgets of a number of US arms importing countries, including allies
such as Saudi Arabia, UAE, Turkey, Taiwan, Australia, India, Iraq, South
Korea, Singapore, Egypt, the UK, Japan, Qatar, Kuwait and Israel among
others.

The country possesses a diverse consumer base and historic data shows
that Saudi Arabia, UAE and Turkey emerged as the largest consumers of
US-manufactured defense goods.